The tussle around engineering company VT Group continued on Thursday as it confirmed it had rejected a second buyout offer from larger rival Babcock International and analysts suggested it would only start talking to its potential suitor at an 750p per share offer price

Vosper Thornycroft, the warship builder, yesterday changed course as a support services group by appointing a new chief executive and chairman and signalling plans to move to headquarters on the outskirts of Southampton.